Oppenheimer Asset Management Inc. Buys Shares of 43,236 Guidewire Software, Inc. $GWRE

Oppenheimer Asset Management Inc. purchased a new position in Guidewire Software, Inc. (NYSE:GWRE) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 43,236 shares of the technology company’s stock, valued at approximately $5,320,000.

A number of other hedge funds also recently modified their holdings of GWRE. Comerica Bank raised its holdings in Guidewire Software by 52.0% during the 4th quarter. Comerica Bank now owns 78,659 shares of the technology company’s stock worth $15,811,000 after buying an additional 26,912 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Guidewire Software by 547.3% in the first quarter. Principal Financial Group Inc. now owns 1,180,334 shares of the technology company’s stock valued at $176,537,000 after buying an additional 997,992 shares during the period. Stephens Investment Management Group LLC boosted its holdings in shares of Guidewire Software by 3.0% in the first quarter. Stephens Investment Management Group LLC now owns 524,818 shares of the technology company’s stock valued at $78,492,000 after buying an additional 15,260 shares during the period. Geode Capital Management LLC increased its position in shares of Guidewire Software by 8.9% during the fourth quarter. Geode Capital Management LLC now owns 1,778,201 shares of the technology company’s stock worth $357,504,000 after acquiring an additional 145,924 shares in the last quarter. Finally, Los Angeles Capital Management LLC increased its position in shares of Guidewire Software by 6.2% during the fourth quarter. Los Angeles Capital Management LLC now owns 128,447 shares of the technology company’s stock worth $25,819,000 after acquiring an additional 7,459 shares in the last quarter.

Insider Buying and Selling at Guidewire Software

In other news, insider James Winston King sold 1,684 shares of the stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $130.64, for a total transaction of $219,997.76. Following the completion of the transaction, the insider directly owned 30,018 shares in the company, valued at $3,921,551.52. This represents a 5.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President John P. Mullen sold 4,292 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $118.74, for a total value of $509,632.08. Following the completion of the transaction, the president owned 131,115 shares of the company’s stock, valued at $15,568,595.10. The trade was a 3.17% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 30,193 shares of company stock valued at $3,854,478 over the last quarter. 0.46% of the stock is currently owned by corporate insiders.

Guidewire Software Price Performance

NYSE GWRE opened at $175.55 on Friday. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.51. Guidewire Software, Inc. has a 12-month low of $102.30 and a 12-month high of $272.60. The company has a market capitalization of $14.62 billion, a PE ratio of 94.89 and a beta of 0.92. The firm’s 50 day moving average is $138.77 and its 200-day moving average is $140.96.

Guidewire Software (NYSE:GWRE) last announced its quarterly earnings data on Thursday, June 4th. The technology company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.08. Guidewire Software had a net margin of 11.25% and a return on equity of 12.62%. The business had revenue of $372.54 million for the quarter, compared to analyst estimates of $355.92 million. During the same quarter in the previous year, the firm posted $0.88 earnings per share. The firm’s revenue for the quarter was up 26.9% on a year-over-year basis. Equities research analysts anticipate that Guidewire Software, Inc. will post 1.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on GWRE shares. Royal Bank Of Canada dropped their price objective on shares of Guidewire Software from $250.00 to $215.00 and set an “outperform” rating on the stock in a report on Friday, June 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Guidewire Software in a report on Wednesday, June 3rd. BTIG Research reiterated a “buy” rating and set a $175.00 target price on shares of Guidewire Software in a report on Thursday, July 2nd. Stifel Nicolaus dropped their price target on Guidewire Software from $225.00 to $200.00 and set a “buy” rating on the stock in a research note on Friday, June 5th. Finally, Piper Sandler initiated coverage on Guidewire Software in a report on Monday, August 10th. They issued an “overweight” rating and a $210.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $220.21.

About Guidewire Software

Guidewire Software, Inc develops software products and cloud services for property and casualty (P&C) insurance carriers. Headquartered in San Mateo, California, the company’s offerings are designed to help insurers manage the core functions of their business—policy administration, billing and claims—while supporting digital engagement, analytics and operational modernization.

Guidewire’s core product portfolio is commonly known as the InsuranceSuite, which includes PolicyCenter for policy administration, BillingCenter for billing and receivables, and ClaimCenter for claims management.